Pharming Group (NASDAQ:PHAR) Issues Earnings Results, Misses Estimates By $0.04 EPS

Pharming Group (NASDAQ:PHAR) posted its earnings results on Thursday. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04), FiscalAI reports. Pharming Group had a net margin of 3.30% and a return on equity of 4.64%. The company had revenue of $90.20 million during the quarter, compared to the consensus estimate of $99.52 million.

Here are the key takeaways from Pharming Group’s conference call:

• 2026 revenue guidance was reduced by $30 million to $375 million–$395 million, reflecting continued competitive pressure on RUCONEST and a 0%–5% expected revenue growth range.
• RUCONEST revenue fell 10% year over year to $72.3 million, but management highlighted resilience in the active patient base, which remained at 93% of prior-year levels, and a recovery in new enrollments to 84 in Q2. The company expects RUCONEST revenue to stabilize and return to growth in the second half of 2026.
• JOENJA revenue grew 40% to $17.9 million, with U.S. revenue up 31% and international revenue up 150%. Growth is expected to be supported by launches in Germany and Japan, further U.S. patient identification, and potential pediatric label expansion.
• Two fully enrolled phase II studies evaluating leniolisib in broader primary immunodeficiencies and CVID are expected to produce results in Q4 2026. Positive data could expand JOENJA’s addressable population substantially—CVID is estimated to be up to 40 times larger than APDS—and support a potential blockbuster franchise.
• Pharming reduced full-year operating expense guidance by $15 million to $315 million–$320 million while continuing more than $40 million of incremental R&D investment. Q2 operating profit remained positive, but operating cash flow was negative $9.7 million and cash and marketable securities declined to $159.5 million.

Pharming Group Price Performance

Shares of PHAR traded down $0.73 during midday trading on Friday, reaching $10.02. The stock had a trading volume of 22,699 shares, compared to its average volume of 18,472. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.63 and a quick ratio of 2.06. The firm’s 50 day moving average price is $13.07 and its 200-day moving average price is $15.23. Pharming Group has a 52 week low of $9.62 and a 52 week high of $21.34. The company has a market capitalization of $709.22 million, a P/E ratio of 62.63 and a beta of -0.04.

Institutional Trading of Pharming Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its position in Pharming Group by 11,310.3% in the fourth quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock worth $510,000 after buying an additional 28,615 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Pharming Group during the 4th quarter valued at $360,000. SmartHarvest Portfolios LLC bought a new stake in shares of Pharming Group during the 4th quarter worth $224,000. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of Pharming Group in the 2nd quarter worth $32,000. 0.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PHAR shares. Zacks Research upgraded shares of Pharming Group from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. Wall Street Zen cut Pharming Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings lowered Pharming Group from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Canaccord Genuity Group began coverage on Pharming Group in a report on Friday, April 10th. They set a “buy” rating and a $37.00 price target on the stock. Finally, Oppenheimer restated an “outperform” rating on shares of Pharming Group in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Pharming Group presently has an average rating of “Hold” and an average target price of $38.33.

Pharming Group Company Profile

Pharming Group N.V. is a clinical-stage biopharmaceutical company headquartered in Leiden, the Netherlands, with a primary focus on developing and commercializing innovative protein replacement therapies for patients living with rare diseases. The company employs a proprietary transgenic technology platform designed to produce recombinant human proteins in the milk of transgenic animals, enabling scalable and cost-efficient manufacturing of complex therapeutic proteins.

The company’s lead product, RUCONEST (recombinant human C1 esterase inhibitor), is approved for the treatment of acute hereditary angioedema (HAE) attacks in multiple markets, including the United States and Europe.